Key Market Indicators
The global wax market value is projected to reach $6.6 billion by 2026, declining by 1% year-on-year from 2020. Market growth has been steady at 1.5% year-on-year since 1997. China, Japan and Germany are the top three countries in terms of market value, respectively. Croatian wax imports are estimated to reach 3.5 million kilograms by 2026, growing at a CAGR of 2.8% year-on-year from 2021. Since 1997, Croatian demand has increased by 0.8% year-on-year. In 2021, Croatia was ranked 40th in terms of wax imports, with Sweden taking the lead at 2.9 million kilograms. Mexico, Germany and Poland were the next three countries in the ranking, respectively. Croatian wax supply has declined by 16.3% year-on-year since 1997. In 2018, Croatia was ranked 55th, with Honduras taking the lead at 8,540 kilograms. Malaysia, Germany and South Africa were the next three countries in the ranking, respectively.
